“Going down meant we were very close to the river silt, in fact we hit the river silt, so then we had nothing. We had to create a base, drive lots more piles and when we went down that depth it made working at Cimitiere Street really dangerous.”

Mr Stewart said there was an existing cutting in the bank below Cimitiere Street and it was made bigger the deeper the builders went.

“There was some risk that Cimitiere Street would end up on our site … I drove 70 piles along Cimitiere Street to hold the whole bank up, so those piles are there and wasted but they are what we call a soldier wall to hold the road up,” he said.

Mr Stewart said a soldier wall was expensive and other setbacks included the need to move sewer and storm water infrastructure and connection costs for power.

“If those types of fees continue it will stifle development but we had committed … the costs of getting going were significantly more, a lot of the profits went south,” he said.

“But Fairbrother’s are on the site and are doing a really good job.”

By Christmas the structure of the car park is expected to be complete, but there will still be ramps, coverings, stairways, lifts and ticketing machines required.

Mr Stewart said he hoped to have the car park ready for handover to the council “very early” next year.

“We’ve got a commitment to complete the office building by the end of next year,” he said.